Goldman Sachs Initiates Coverage on Mallinckrodt PLC to Neutral

Goldman Sachs Initiates Coverage on Mallinckrodt PLC(NYSE:MNK). The shares have been rated Neutral. The rating by Goldman Sachs was issued on Jun 6, 2016.

In a different note, On May 4, 2016, JP Morgan said it Maintains its rating on Mallinckrodt PLC. In the research note, the firm Lowers the price-target to $100.00 per share. The shares have been rated ‘Neutral’ by the firm. On May 3, 2016, Piper Jaffray said it Maintains its rating on Mallinckrodt PLC. In the research note, the firm Raises the price-target to $97.00 per share. The shares have been rated ‘Overweight’ by the firm. On Mar 28, 2016, RBC Capital said it Maintains its rating on Mallinckrodt PLC. In the research note, the firm Raises the price-target to $205.00 per share. The shares have been rated ‘Outperform’ by the firm.

Mallinckrodt PLC (MNK) shares turned negative on Fridays trading session with the shares closing down -2.76 points or -4.41% at a volume of 19,68,818. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $62.15. The peak price level was also seen at $62.15 while the days lowest was $59.46. Finally the shares closed at $59.77. The 52-week high of the shares is $127.233 while the 52-week low is $50.9. According to the latest information available, the market cap of the company is $6,534 M.

Mallinckrodt PLC(MNK) last announced its earnings results on May 3, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $918.00M. Analysts had an estimated revenue of $874.01M. Earnings per share were $2.01. Analysts had estimated an EPS of $1.73.

Several Insider Transactions has been reported to the SEC. On May 11, 2016, Matthew K Harbaugh (CFO) purchased 500 shares at $59.37 per share price.Also, On May 10, 2016, Hugh M. O’neill (Sr. VP & Pres, ARD) purchased 1,653 shares at $60.99 per share price.On May 9, 2016, Steven J. Romano (Sr. VP & Chief Scientific Ofcr) purchased 900 shares at $56.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Mallinckrodt public limited company (Mallinckrodt) is a global specialty pharmaceuticals company. The Company develops manufactures markets and distributes both branded and generic specialty pharmaceuticals active pharmaceutical ingredients (API) and diagnostic imaging agents. The Company uses its API products in the manufacture of its generic pharmaceuticals and also sells them to other pharmaceutical companies. The Company operates through two segments: Specialty Pharmaceuticals and Global Medical Imaging. The Company’s Specialty Pharmaceuticals segment develops manufactures and sells through its Brands business drugs including EXALGO (hydromorphone HCl) Extended-Release Tablets and GABLOFEN. The Company’s Global Medical Imaging segment develops manufactures and markets contrast media and delivery systems (CMDS). The Company offers INOMAX Total Care (inhaled nitric oxide) a neonatal critical care product.

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